Big score on my last Flip !!!!!

[Michael Gessner]

Good Morning BP, here id like to share my last property i flipped in 2019.

Purchase Price $325,000

Rehab Cost $85,000

Sale Price $590,000

Conventional mortgage for purchase and a VERY VERY expensive private lender for the reno cost

Found this property off market, took almost a year to get this one into contract as the seller was so determined to get way more out of it. Purchased end of sept of 19 and sold march 4 of 20 completed renovations mid to end of December, Full renovation inside and out, added a third full bath downstairs, added central air, removed 2 walls in kitchen for open concept, and made a dedicated laundry room. Im fortunate enough my fathers a plumber and with my experience and guys who work with me we handled every aspect, used no sub contractors except to upgrade service to breaker panel. One of the biggest hurdles in this career is finding reliable private funding at a reasonable cost. Deals for me have not been an issue to find, my goals are to try and keep this going and to move towards new construction while continuing to flip. Anyone whos in the area of NY NJ looking to connect please feel free and reach out !!!!!!!